Published: November 21 2023
The Magyar Bank of Hungary has recently introduced investment services and aims to become a leader in Budapest's financial market. This new bank, which is based on the former Magyar Takarékszövetkezeti Bank, already has a significant client base of 124,000 individuals with equity accounts.
The Investment Bank's Approach
The investment bank will follow Anglo-Saxon models and will primarily focus on serving private individuals initially. However, it plans to expand its services to include companies and institutional clients in the future. The bank aims to conduct over 200,000 money and capital market transactions per year and offers a wide range of more than 70,000 products to its customers.
Transition of Clients
The bank plans to transition all of its existing clients, both retail and corporate, who have equity accounts into the investment bank by the first half of next year. This strategic move aims to consolidate and expand the bank's presence in the money and capital markets in Hungary.
Becoming the Market Leader
With its introduction of investment services, the Magyar Bank of Hungary is determined to become a market leader in the field of money and capital markets in Hungary. The bank's CEO, Szabolcs Brezina, is committed to establishing the bank as the go-to choice for individuals and institutions seeking comprehensive and competitive financial services in Budapest.
Conclusion
With its innovative approach and focus on serving a wide range of clients, the Magyar Bank of Hungary is poised to make a significant impact in Budapest's financial market. By transitioning existing clients and offering a broad range of products and services, the bank aims to establish itself as the leader in the money and capital markets in Hungary.
Questions & Answers
What is the purpose of Magyar Bank of Hungary (MBH)? The purpose of Magyar Bank of Hungary is to provide investment services and aim to lead Budapest's financial market.
What is the basis of Magyar Bank of Hungary? Magyar Bank of Hungary is based on the former Magyar Takarékszövetkezeti Bank.
How many clients does Magyar Bank of Hungary have? Magyar Bank of Hungary has 124,000 clients who have equity accounts with the bank.
What types of clients will Magyar Bank of Hungary serve initially? As a first step, Magyar Bank of Hungary will serve private persons.
Does Magyar Bank of Hungary have its own investments and transactions? No, Magyar Bank of Hungary will have only minimal own investments and transactions.
Will Magyar Bank of Hungary expand its services to other types of clients in the future? Yes, Magyar Bank of Hungary plans to later serve companies and institutional clients.
How many money and capital market transactions does Magyar Bank of Hungary plan to conduct per year? Magyar Bank of Hungary plans to conduct more than 200,000 money and capital market transactions per year.
How many products does Magyar Bank of Hungary offer to customers? Magyar Bank of Hungary offers more than 70,000 products to customers.
What is the goal of Magyar Bank of Hungary? The goal of Magyar Bank of Hungary is to be the market leader in the field of money and capital markets in Hungary.
